The start of a New Year is the time when we all make predictions for the next twelve months, but one of the most difficult areas to forecast at the moment must be the housing market.  Some experts predict an optimistic flat market, whilst others are predicting a rather negative drop of up to 20 per cent or more.

In some parts of the country, house prices are already at lows not seen in the last decade.

Naturally, this means there are some great bargains to be had and although some will be in negative equity they will hopefully be able to ride out the storm so if you don’t need to sell then don’t, but if you do, at least your next home should be cheaper too.

It seems the days of equity withdrawal, except for the elderly and those who have already paid off their mortgage, are over, which won’t please our PM as Gordon Brown is hoping people will spend and help to stave off and get us through the recession.

Those doing their CeMAP training at the moment will be expectant that the housing market will be ready to rocket once mortgage lenders starting to lend to each other again and mortgages availability increases. The market is showing signs of this already as one or two 90 percent mortgages are back on the market.

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